A former accountant for a Kalispell lumber company has pleaded guilty to a federal wire fraud charge for an investment scam that initially cost the company $350,000.
The U.S. Attorney’s Office says that beginning in 2008, Jesse Shaderic Wall of Kalispell persuaded RBM Lumber Co. to allow him to invest the company’s money. Wall said he could generate greater returns than a bank could provide.
However, prosecutors say Wall used the money to keep his struggling business afloat and when RBM asked for the money back in February 2011, Wall was unable to repay the $350,000.
Court records say Wall repaid $190,000 in June 2011.
Wall, who is 66, pleaded guilty Wednesday before U.S. District Judge Jeremiah Lynch in Missoula. Sentencing is set for July 12.